Take a look at the biggest drivers in the futures market:
Big banks – Goldman Sachs (GS), Bank of America (BAC), Morgan Stanley (MS), JPMorgan Chase (JPM) and Wells Fargo (WFC) announced dividend increases after undergoing Fed Morgan Stanley’s latest stress test. And Wells Fargo both doubled their dividends, while Citigroup (C) is the only largest of the six banks to keep its dividend unchanged. Morgan Stanley was up 3.3 percent in premarket, with Goldman up 1.4. %
Facebook (FB) – Facebook is still watching after Monday’s late-night spike. which surpassed $1 trillion in market capitalization. It follows a court decision dismissing federal and state antitrust complaints against the social media giant.
Tesla (TSLA) – UBS cut its price target for Tesla shares to $660 from $730, while maintaining a “neutral” rating, noted by increased competition and operational delays.
Boeing (BA) – Boeing has received an order for 200 aircraft from United Airlines (UAL), which has ordered 70 Airbus aircraft to modernize its fleet. United will buy several Max aircraft from Boeing and an A321neo model from Airbus.
FactSet (FDS) – Financial information company earned $2.72 per share for its fiscal third quarter, 3 cents per share projected. Revenue came in above Wall Street forecasts. FactSet expects revenue of $10.75 to $11.15 per share for the fiscal year ending in August. That compares to the current consensus estimate of $11.14 per share.
HERMAN Miller (MLHR) – Herman Miller reported quarterly profit of 56 cents per share, beating expectations of 39 cents per share. The office furniture maker’s revenue also surpassed estimates, Herman Miller gave. Earnings forecasts are lower than expected, however. And its shares fell 1.7 percent in the premarket.
Jefferies Financial (JEF) – Jefferies beat Wall Street forecasts for both profit and revenue for the latest quarter. And the financial services company also announced a 25% dividend increase, with Jefferies up 3.3% in futures trading.
XPO Logistics (XPO) – XPO announced that its initial public offering of 5 million shares is priced at $138 per share. Compared to Monday’s close of $140.61, shipping and logistics companies plan to use the money to settle debt and corporate general purposes. XPO is down 1.5% in the futures market.
HERBALIFE NUTRITION (HLF) – Herbalife is rated “buy” on a new report at B Riley Securities, with a price target of $70 per share. The nutrition product maker’s stock closed at $53.34 on Monday. B Riley noted Herbalife’s global leadership in weight management supplements. Due to increased presence in the sports/fitness category
General Electric (GE) – Goldman Sachs classifies the stock as Goldman rated GE “buy” with a price target of $16 compared to Monday’s close of $16. $12.89 GE is up 1% in futures trading.
Textron (TXT) – Textron has been upgraded to “overweight” from “equal-weight” at Morgan Stanley based on the rebound in use of business jets as well as the trend for vertical take-off and landing vehicles. electric
FedEx (FDX) – Bank of America Securities added FedEx to its “US1” list of top picks while maintaining its “buy” rating. BofA sees significant changes to FedEx, including its “buy” pricing power. increase and notice that the stock is at the bottom of its historical trading range.